Research On The Guiding Factor Of Venture Capital Development In Zhejiang

At present, venture capital must be the important factor to increase the economic on the world. Many countries establish special guiding measures to give venture capital direct or indirect support. Directed by the theory of venture capital , this article studies the venture capital experience of other counties, combine the present situation of Zhejiang province, and use positive study and single study to research on the guiding factor of venture capital development. This paper firstly introduces concept of venture capital, and summarizes the develop process and theory research of venture capital. Secondly it defines and chooses the guiding factor of venture capital development, and researches the mechanism. Thirdly, it analyzes the situation and some problems of Zhejiang, and gives some advice to how to use guiding factors to develop venture capital. At last, based on above findings, it put forward some proposal on Zhejiang's venture capital development.This paper gives an innovation definition and choice to the guiding factor of venture capital development, and researches on how to guide the venture capital in Zhejiang. At first, it analyzes the effect of single factor. The governmental venture capital fund uses three patterns—importing compensation fund, importing surety institution and fund of fund—to guide the venture capital to develop. The government needs to use tax police in reason and give it a correct direction, and the policy has to manifest its guiding influence. Concerned to the exit mechanism of venture capital, Zhejiang can use IPO on abroad, Over-The-Count and Management repurchase three exit ways to guide to develop venture capital. Then the paper compares the three guiding factors to conclude that the governmental venture capital fund is most important in the beginning of venture capital, the exit mechanism is most important when venture capital is in mature period, and the tax policy keeps balance to develop venture capital.